Is This The End?

Hello lovely Stitchfox peeps!

Potentially bad news: We are closing Stitchfox down, with a bit of luck temporarily.

Why, you ask?

Because life is pain but not without a sense of humour.

If you have questions, go here for more info.

Basically what has happened is that we have grown too fast and hit a cash flow “speed bump” (as we like to call them) that was slightly too big to bounce over.

Given that we are subscription based, our revenue comes in over time yet we need to get a wide range of stock up front. This cash gap got bigger and bigger as we grew so quickly and to keep growing we need to cover it with outside capital.

We are closing while we explore how to get this investment rather than battle on and risk our customers having a bad experience.

We are going to do everything in our power to get back on the road to global domination but the machinery of Venture Capital in New Zealand is not well defined nor overflowing with opportunity for fashion tech startups. Basically, we are going to pitch until we can pitch no more and hope we can get something sorted in six months.

Needless to say this is a tough time for the Stitchfox family. We have loved every minute (OK, most minutes) of breaking the rules of kid’s fashion and although we will be sad if this is to be the end we are also grateful for what the journey has taught us. We are grateful to our families and friends that have supported us along the way and the overwhelming goodness of our suppliers that have been so incredibly, unbelievably kind.

We are extremely grateful to our wonderfully supportive customers. It’s been really cool to see your littlees look so rad, each with their unique styles, and it’s nice to have been a small part of their journeys.

If you want some more info about the hiatus, you can find it here otherwise I’ll sign off with a well worn but nevertheless true quote from Tennyson

'Tis better to have loved and lost than never to have loved at all.

Peace mamas.

Byeee from the Stitchfox Family